Here is my newest kukri (thanks Rsword). It has a laminated steel blade with one large fuller and smaller ones up top. The hilt is chiseled steel i floral motif. I packed the recesses with lime (remnants of lime was already in the hilt).

Damascus bladed kukri's appear to be rare, and this one I suspect might be from the early to mid 1800s (or earlier according to Rick's informant).

This is a nice kukri that I would put to the Indian Mutany period based on other similar kukri with steel hilt, full tang peened arrangement, fullering and laminated steel. 1857–59 or there about.

"Indian Mutiny, also called Sepoy Mutiny or First War of Independence, widespread but unsuccessful rebellion against British rule in India in 1857–59. Begun in Meerut by Indian troops (sepoys) in the service of the British East India Company, it spread to Delhi, Agra, Kanpur, and Lucknow."

Very good and rare aquisition!
However, this is not a kris so the etching should be very discrete... if any.
I suspect it was over-etched to make the pattern discernable in the photos, and facilitate the sale.
So, I agree with Detlef and suggest you polish it a little. The pattern should be only visible in reflected light.

MacCaithan thanks so much for posting - you have now confirmed what kind of scabbard should I choose to make one for my kukri.

The "white" parts of your hilt appear to be silver plating over the steel. I figure that the lime packing is for visual effect, that it brings out the designs better (like that of some Moro scabbards).

Thanks, Battara. The silver bits in the design that contrast with the darkened steel areas constitute what I think could be classed as niello decoration, and they are, indeed, silver.

The residue that I mentioned is different; it looks a bit like old toothpaste in the small crevices (the deposits are not as easy to see in the image as I had hoped they would be). There are only a few places where these are visible, so they may not be residual decoration (perhaps they're just toothpaste).

The scabbard struck me as being unusually plain for this well-executed kukri. I would have expected something a bit more flash. Even the chape has been given the darkened steel treatment, though, so I believe it is the original scabbard. Here's a better view of what the face of it looks like.

This kukri measures 15.75" straight from the tip to the farthest end of the pommel cap. The grip is among the smallest in my small collection at only 4" on center.

Properly speaking, I would say it's a laminated or watered steel blade rather than Damascus, a term normally reserved for Wootz or Pattern Welded blades. It is a very nice piece indeed, and I find the idea of "liming" the hilt to bring out the pattern very interesting.
Here is my chiselled steel hilt for comparison... There's not a lot of them about.